Participated · Series A · Aug 2017

HealthJoy provides an integrated benefits navigation platform that connects employees to medical, dental, vision, savings accounts, clinics, wellness programs and virtual care through a 24/7 concierge. The company has expanded its virtual care suite and partners with providers such as Teladoc to help address major claim categories and increase preventive care access. It introduced an "automated steerage" feature that guides members to lower-cost, more efficient care options and integrates claims, utilization and virtual care data. HealthJoy is building a comprehensive member profile and engagement engine to engage members earlier and more often in their healthcare journeys. The platform reports a client base of more than 1,000 employers covering over 500,000 employees and dependents, a 60% activation rate after 30 days, and 25% of its employee base logging into the app monthly. The company says its guidance and comparisons help members save an average of $2,000 in out-of-pocket costs. HealthJoy simplifies employee healthcare benefits by integrating with healthcare providers and benefit consultant agencies. Its features include an AI-based virtual assistant, healthcare concierges, a price-transparency rewards tool called HealthJoy Rewards, and an employee assistance program (HealthJoy EAP). The company reports a 33% monthly login rate, serves 500 employers, and clients see a tenfold increase in employee use of benefits, including telemedicine. HealthJoy has raised $53 million to date following a $30 million Series C led by Health Velocity Capital. The new funding will be used to improve the virtual assistant, develop new services, integrate with more partners, and aggregate data. It plans to add 200 employees in its Chicago office in 2021, double its engineering team, expand work with small- and medium-sized businesses, and pursue a potential partnership to serve Medicare recipients. HealthJoy offers an app that guides employees through health benefits, managing claims, deductibles, health savings accounts and prescriptions, and directs members to single-vendor point solutions like telemedicine. The company launched in 2014 and pivoted to an employer-focused model in early 2017. It currently has about 200,000 users, grew 610% last year, and projects 250% growth this year. HealthJoy reports telemedicine utilization of 27.3% across its book of business and cites per-visit savings of roughly $450–$500 by avoiding higher-cost settings. The startup highlights member savings examples, including a case where monthly drug costs were cut more than 90%, saving the employee over $1,000 and the employer about $8,000. HealthJoy plans to use the new capital to expand its team and product to increase utilization of integrated benefit services. HealthJoy is a chat-based app that gives users access to board-certified doctors, veteran insurance experts, dedicated healthcare concierges and a proactive chatbot to help protect out-of-pocket expenses. The platform is distributed to HR teams at companies of any size (from 5 to 500,000 employees) through benefit advisors, third-party administrators and health plans. HealthJoy combines clinician access, insurance expertise and concierge services within a single app to help employees navigate care and costs. The company plans to use the new funding to expand its national network of distribution partners, build strategic partnerships with service, data and technology companies, and hire in Chicago and remotely. Leadership is listed as Shanu Kurd, Doug Morse-Schindler and Justin Holland. HealthJoy was also named a preferred technology partner to the Benefit Advisors Network. HealthJoy provides a human-supported virtual healthcare assistant called JOY that guides consumers across a wide range of healthcare decisions. Its platform includes online doctor consultations, healthcare concierges, dental, vision and prescription savings plans, personalized prescription cost optimization, and medical bill review and negotiations. Launched in 2014 and led by CEO Justin Holland, HealthJoy serves more than 22,000 users who are protecting over $100 million in out-of-pocket healthcare expenses. The company is headquartered in Chicago, Illinois. HealthJoy closed a $3 million funding round to accelerate development of its healthcare decision platform and the JOY assistant. It plans to expand into consumer, broker, and employer channels while continuing product development.